Exam (elaborations)
SCM 300 Final Exam With 100% Correct And Verified Answers
- Course
- Institution
SCM 300 Final Exam With 100% Correct And Verified Answers
[Show more]
Content preview
SCM 300 Final Exam With 100% CorrectAnd Verified Answers
Competitive Priorities - Correct Answer-1. Cost
2. Quality
3. Speed/Time
4. Flexibility
Productivity and Value - Correct Answer-Organization vs.
Customer
Productivity: Supplier Perspective- what did I get? / What is the
price? Output/input
Value: Customer Perspective- what did I make? /What was the
cost?
What is SCM - Correct Answer-The efficient integration of
supplier's manufacturers, transporters, DC, warehouses, retailers,
and all other parties associated in delivering the final good or
service.
Operations Management - Correct Answer-Design, operations, and
improvement of product systems that efficiently transform inputs
into finished goods and services which leads to maximizing
productivity.
Logistics - Correct Answer-Is the COORDINATED Planning and
Execution of product distribution, preparation of packaged product,
transport and warehousing.
Procurement - Correct Answer-The process of obtaining services,
supplies, and equipment in conformance with corporate regulations.
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
,Upstream - Correct Answer-Stage of the production process
involves searching for and extracting raw materials.
Downstream - Correct Answer-Stage in the production process
involves processing the materials collected during the upstream
stage into a finished product
Reverse Logistics - Correct Answer-The process of planning,
implementing, and controlling the efficient, cost effective flow of raw
materials, in-process inventory, finished goods and related
information from the point of consumption to the point of origin for
the purpose of recapturing value or proper disposal.
1st Tier Supplier - Correct Answer-Companies direct supplier
2nd Tier Supplier - Correct Answer-Provide tier 1 with supplies
Safety Stock - Correct Answer-Insurance inventory
Pipeline Inventory - Correct Answer-Inventory in transit; , orders
that have been placed but not yet received or paid for by the
customer
Vertical Integration - Correct Answer-A company taking on
additional supply chain responsibilities that used to be done by
outside parties
Benefits of High Inventory Levels - Correct Answer->>Higher levels
of customer service
>>Quantity discounts
>>Fewer orders placed
>>Greater security for demand variability
(Cons for Low): BUYING the Inventory - Cost to purchase
(consider quantity discounts) •STOCKING OUT - Poor customer
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
,service levels, PAYING the Purchasing People- Costs to order
inventory, TRANSPORTATION: Ease, Cost
Benefits of Low Inventory Levels - Correct Answer->>Less storage space
>>Lower change of obsolesence
>>Less materials handling requirments
>>More money available for investment opportunities
(Pros for Low): Cost of holding Inventory, Materials handling - Cost to
handle inventory, loss of Inventory -
Shrinkage/Obsolescence, ties up your cash - Capital
investment options
What is the EOQ? - Correct Answer-Economic Order
Quantity, the optimal order size, using it you will
get the lowest total cost for the given cost
structure and demand forecast. When annual
holding costs=annual ordering costs you get the
EOQ.
What does it mean if AHC > AOC? Increase or
decrease Q? - Correct Answer-You would lower
quantity, because it is above the EOQ.
What does it mean if AHC < AOC? Increase or
decrease Q? - Correct Answer-You should increase
quantity, because it below the EOQ.
What should be considered in choosing a supplier?
- Correct Answer->>Cost
>>Quality
>>Location
>>Innovation
>>Flexibility
>>Speed ect..
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
, Cost, Quality, location, innovation, flexibility,
speed, core competencies, time, reliability,
commitment to improvement, etc.
Line Flow - Correct Answer-Demand: Standard
Items, High Volumes, Static Industry. Layout:
Product Focused/Line Flow Layouts.
Manufacturing system: Assembly Lines, Continuous
Flow Systems.
Make-to-stock systems.
Key points: Low per unit Cost(long-term),
Consistent Quality, Fast Production Rates, Minimal
Customization Opportunities, Product Lines very
consistent, Make-to-Stock, Start -up costs may be
very high
Flexible Flow - Correct Answer-Demand:
Customized Items, Low Volumes, Dynamic Industry.
Layout: Process Focused/Flexible Flow Layouts.
Manufacturing system: Job Shops.
Make-to-order system.
Key points: High per unit cost, High performance
and design, Slow production rates, Customization
opportunities likely, difference between products
may be great, Make-to-order, Start-up costs
relatively low.
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $20.39. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now